- The BlockStreet Journal
- Posts
- Blackrock Bets On BTC & ETH
Blackrock Bets On BTC & ETH
PLUS: Bitcoin Shrugs PCE Data
Blockstreet Journal
In partnership with
Welcome, Crypto enthusiasts!
Blackrock doesn’t see ETF interest outside of BTC & ETH, showing that a lot of ALTs still have massive potential for growth.
In Today’s Blockstreet Journal:
Blackrock Bets On BTC & ETH
Bitcoin Shrugs PCE Data
Market Rundown
Top Gainers & Losers
Airdrops & More News
Latest News
MARKET NEWS
🪨 Blackrock Bets On BTC & ETH
Word On The Street: Asset manager BlackRock reports "very little interest" among clients in cryptocurrencies beyond Bitcoin (BTC) and Ethereum (ETH).
The details:
"Our client base today overwhelmingly shows interest in Bitcoin first, and then somewhat in ETH... and there’s very little interest today beyond those two." - Robert Mitchnick
Mitchnick indicated that BlackRock does not anticipate a significant increase in crypto exchange-traded funds (ETFs) outside of these two core digital assets.
The firm launched its first crypto ETFs — iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust ETF (ETHA) — in January and July, respectively.
Why it matters: BlackRock’s crypto ETFs are highly popular, with IBIT managing approximately $22 billion in AUM and ETHA nearing $270 million shortly after its launch.
SPONSORED BY BETTERMENT
🏦 Investing Shouldn’t Be Difficult
Your IRA, made to order
Choose where and when you want to retire, and a Betterment IRA can help make your money hustle all the way there.
BITCOIN
🤷♂️ Bitcoin Shrugs PCE Data
Word On The Street: Despite mixed U.S. inflation data, including the PCE Index, Bitcoin managed to maintain its gains during the Asia trading session.
The details:
Bitcoin, alongside U.S. stocks, moved higher, with BTC/USD rising nearly 7% from the previous day's lows.
Traders noted that while short-term price action was range-bound, the broader trend favored Bitcoin bulls.
As the weekend approaches, volatility is expected, especially with former U.S. President Donald Trump speaking at the Bitcoin 2024 conference in Nashville
Why it matters: Bitcoin dipped to $65,000 and rebounded, with a potential rally to $71,500 on the horizon.
Market Rundown
Fear & Greed Index
The global crypto market cap is $2.41T, a 3.64% increase over the last day.
The total crypto market volume over the last 24 hours is $77.33B, which makes a 12.96% decrease. The total volume in DeFi is currently $4.62B, 5.97% of the total crypto market 24-hour volume. The volume of all stable coins is now $70.67B, which is 91.39% of the total crypto market 24-hour volume.
Bitcoin’s dominance is currently 55.38%, an increase of 0.26% over the day.
Global Market Metrics
As of today, the global cryptocurrency market is in the following state:
- Total Market Cap: Approximately $2.41 trillion USD
- Total Market Volume: Around $77.33 billion USD
- Bitcoin Dominance: 55.38%
- Ethereum Dominance: 16.44%
- DeFi Market Cap: Approximately $70.1 billion USD
- Stablecoin Market Cap: Approximately $157.7 billion USD
- DeFi Volume: Around $4.62 billion USD
- Stablecoin Volume: Approximately $70.67 billion USD
Top Gainers & Losers
🚀 Top Gainers
💩 Top Losers
Airdrops & More News
DAILY AIRDROP
📦️ Litentry Quest Airdrop
Litentry is hosting Season 3 of Identity Odyssey, which will run from July 22nd to August 5th (07:00 UTC), offers a total prize pool of $77,777 in various tokens.
Step-by-Step Guide:
Go to the Identity Odyssey page.
Connect your wallet.
Click on “Generate All Credentials by One Click” and approve the transaction.
Complete the daily check ins.
Refer friends to earn up to 1600 points per invite.
Join the Litentry Discord server.
Follow Litentry on X and complete the daily retweets.
Build your identity through the Profiles page to gain more credentials and increase your score.
Link your web3 addresses and social accounts on the My Identity page.
Other News
Elon Musk’s X removes crypto emojis, leaving community puzzled. Bitcoin is not the only cryptocurrency to have its hashtag emoji removed from X as the Bitcoin 2024 conference kicked off on July 25.
RNDR's 12% Gain Leads as Index Rebounds. CoinDesk 20 Index jumped 4.4% fueled by RNDR's 12.6% rise and NEAR's 7.7% advance.
Japan crypto ETFs boosted by Franklin Templeton and SBI Holdings partnership. The Japanese joint venture will focus on ETFs and other “emerging asset classes,” including digital assets and cryptocurrency.
Jersey City to Invest in Bitcoin ETFs, the Latest Pension to Dive Into Crypto. “The question on whether Crypto/Bitcoin is here to stay is largely over + crypto/Bitcoin won,” said Jersey City Mayor Steven Fulop in a tweet.
🫡 Thanks For Reading
SPONSOR US
Get your product in front of over 10k+ Investors
Our newsletter is read by thousands of professionals, investors, developers, and business owners around the world. Get in touch today.
FEEDBACK
What'd you think of today's newsletter? |
If you have specific feedback or anything interesting you’d like to share, please let us know by replying to this email.
Reply